Investing.com– U.S. stock index futures were little changed on Wednesday evening after Wall Street closed lower in a choppy session, as investors awaited a closely watched June jobs report for clues on the Federal Reserve’s policy path. 

S&P 500 Futures inched 0.1% lower to 7,536.0 points, while  dipped 0.1% to 30,068.75 points by 20:45 ET (00:45 GMT).  also traded 0.1% lower at 52,600.0 points.

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The major U.S. indexes ended the first trading day of the third quarter in negative territory.

The slipped marginally, the S&P 500 lost 0.2%, and the dropped 0.7%, weighed down by a steep decline in semiconductor and AI-related stocks.

Market participants remained focused on the outlook for interest rates after Federal Reserve Chair Kevin Warsh reiterated the central bank’s commitment to returning inflation to its 2% target, despite noting that inflation expectations had eased recently.

Attention is now turning to Thursday’s report, which is being released a day earlier than usual because of the Independence Day holiday.

Economists expect the U.S. economy to have added around 114,000 jobs in June, down from 172,000 in May. Investors are watching for signs of labor-market cooling that could influence the Fed’s next move.

Geopolitical developments also remained in focus. U.S. and Iranian negotiators concluded two days of indirect talks in Doha on Wednesday.

The discussions centered on maritime traffic through the Strait of Hormuz and the unfreezing of Iranian funds, key components of a temporary agreement reached last month.

prices eased further in Asian trading Monday, helping calm inflation worries that had rattled markets in recent weeks. Investors have increasingly linked the trajectory of oil prices and Middle East tensions to expectations for inflation and monetary policy.

Despite Wednesday’s pullback, U.S. equities remain near record levels following strong gains in the second quarter, leaving investors weighing elevated valuations against a resilient economy and expectations for continued earnings growth.